6 Ways Your AP Department Can Manufacture Value

With the continuing adoption of Industry 4.0, your shop floor has likely seen extensive changes as you incorporate the Industrial Internet of Things (IIoT), smart manufacturing, intelligent automation, and other technologies and innovations. But what about Accounts Payable (AP)?

In manufacturing companies worldwide, AP is still plagued by manual processes, a heavy reliance on paper checks, and lack of visibility. It is time to implement digital transformation that will enable AP to manufacture sustainable value for your business.

As on the shop floor, a holistic approach to digital transformation is vital. AP digitization should encompass invoice automation, complete payment services, vendor enablement options, and robust fraud prevention measures. This end-to-end strategy will drive business value in six key areas.

"60% of manufacturers say that time savings and improved productivity are the top drivers of AP process automation at their organizations."

Source: Strategic Treasurer, 2022